US Market 26 Sep 2020

On the weekly chart, US market broke pwl (previous week low) and recovered some of the losses to close with a +roc (close price > open price) except for Dow closed with a -roc (close price < open price).

BDI and Harpex closed higher.

Dollar Index broke out.

Watch out for 

• various countries will be reporting Manufacturing PMI data 
• ECB President Lagarde will be speaking
• US NFP
• China and Hong Kong are having a holiday on Thu and Fri

Instruments that show buying interest (3) from Dealer/Intermediary (sell-side participants)

UT 

• Dow
• Nasdaq (1)
• Russell

Neutral 

• None

DT 

• None

Instruments that show selling interest at extreme (2) by Dealer/Intermediary (sell-side participants)
UT 

• None

Neutral 

• None

DT 

• None

Note

(1) COT Index >= 90, Buying interest at extreme
(2) COT Index <= 10, Selling interest at extreme
(3) COT Index >= 70, rising COT Index, monitor for trend reversal

Down Trend and Up Trend is based on 50 Simple Moving Average

Dow

Daily UT, Weekly UT
Potential resistance around 27,345, 28,195, 28,730, 29,106, 29,407

Potential support around 26,635, 25,784, 25,336, 24,837

S&P
Daily UT, Weekly UT

Potential resistance around 3,303, 3,388, 3,391, 3,454, 3,579, 3,690, 3,925

Potential support around 3,219, 3,155, 3,072, 3,022, 2,983, 2,940

Nasdaq
Daily UT, Weekly UT

Potential resistance around 11,318, 12,040, 12,410, 12,762, 13,485

Potential support around 10,856, 10,595, 10,206, 9,873, 9,723, 9,243, 8,781

Russell
Daily UT, Weekly UT
Potential resistance around 1,498, 1,519, 1,543, 1,585, 1,609, 1,624, 1,649

Potential support around 1,451, 1,420, 1,388, 1,341, 1,296

Key event to watch out  (SG Time, GMT+8)

28 Sep, Mon

• 2145 Europe ECB President Lagarde Speaks

29 Sep, Tue

• 2000 German Harmonized Index of Consumer Prices (YoY)
• 2030 US Goods Trade Balance
• 2200 US CB Consumer Confidence (Sep)

30 Sep, Wed

• 0900 China Manufacturing PMI (Sep)
• 0945 China Caixin Manufacturing PMI (Sep)
• 1400 UK GDP
• 1530 Europe ECB President Lagarde Speaks
• 1655 German Unemployment Change (Sep)
• 1700 Europe CPI (YoY) (Sep)  
• 2015 US ADP Nonfarm Employment Change (Sep)
• 2030 US GDP
• 2030 Canada GDP
• 2200 US Pending Home Sales (MoM) (Aug)
• 2230 US Crude Oil Inventories 

01 Oct, Thu

• China, Hong Kong holiday
• 0750 Japan Tankan Large Manufacturers Index (Q3)
• 0750 Japan Tankan Large Non-Manufacturers Index (Q3)
• 1555 German Manufacturing PMI (Sep)
• 1630 UK Manufacturing PMI (Sep)
• 2030 US Initial Jobless Claims
• 2200 US ISM Manufacturing PMI (Sep)

02 Oct, Fri

• China, Hong Kong holiday
• 0930 Australia Retail Sales (MoM) (Aug)
• 1700 Europe CPI (YoY) (Sep)
• 2030 US Nonfarm Payrolls (Sep)
• 2030 US Unemployment Rate (Sep)
• 2200 US Michigan Consumer Sentiment Index